Axonics Modulation Technologies has acquired UK-based medical products provider Contura in a deal valued at around $235m.

The transaction consists of $200m in cash and stock, as well as a potential future milestone of $35m.

Based in London, Contura is involved in the development and manufacturing of advanced medical products for women’s health, soft tissue augmentation and orthopaedics using its patented hydrogel technology.

Bulkamid, which is Contura’s major product, is a urethral bulking agent for women with stress urinary incontinence (SUI).

SUI is a condition, which afflicts women of all ages and childbirth is one of the main contributing factors.

Bulkamid is a next-generation hydrogel, which is infused into the urethral wall in a minimally invasive, office or outpatient facility procedure to rebuild the natural closing pressure of the urethra.

Contura secured CE mark approval for Bulkamid in 2003, while approval from the US Food and Drug Administration (FDA) in early 2020.

At present, Bulkamid is marketed through a direct sales force in the US, UK, Germany, France and Nordic countries. It is supplied through distributors in more than 30 international markets across the globe.

The acquisition of Bulkamid is said to leverage Axonics’ existing commercial footprint of more than 220 sales and clinical specialists in the US and Europe.

Axonics has also entered into a manufacturing agreement for the supply of the Bulkamid hydrogel.

Axonics CEO Raymond Cohen said: “This acquisition is highly synergistic, leverages our expansive commercial footprint and gives us the opportunity to expand our SNM business around the world.

“Axonics will provide urogynecologists and urologists with a complete suite of clinically differentiated incontinence solutions for their patients, thereby enhancing Axonics’ value proposition to new and existing customers.”

Axonics in engaged in commercialising novel implantable SNM devices for patients with urinary and bowel dysfunction.

Recently, the company secured PMA supplement approval from the FDA for its third-generation implantable neurostimulator (INS).